XRP Price Prediction: Ripple At Risk of Downside Thrust Before Fresh Increase
12 April 2023 - 4:00PM
NEWSBTC
Ripple is struggling to stay above the $0.5065 support against the
US Dollar. XRP price could dive toward $0.485 or even $0.465 before
the bulls take a stand. Ripple started a fresh decline from the
$0.5850 resistance against the US dollar. The price is now trading
near $0.5065 and the 100 simple moving average (4 hours). There is
a major bullish trend line forming with support near $0.5065 on the
4-hours chart of the XRP/USD pair (data source from Kraken). The
pair might correct further lower toward the $0.485 support or even
$0.465. Ripple Price Shows Signs of More Losses After struggling to
clear the $0.585 resistance, Ripple’s XRP started a downside
correction against the US Dollar. Recently, Bitcoin and Ethereum
saw a decent increase, but XRP struggled to rise. Earlier, there
was a decent upward move from the $0.482 zone. The bulls pushed the
price above the $0.512 resistance. However, it failed to clear the
$0.5200 resistance zone. The price stayed below the 50% Fib
retracement level of the downward move from the $0.5848 swing high
to the $0.4820 low. It is now moving lower below $0.5120. XRP is
trading near $0.5065 and the 100 simple moving average (4 hours).
There is also a major bullish trend line forming with support near
$0.5065 on the 4-hours chart of the XRP/USD pair. Source: XRPUSD on
TradingView.com Initial resistance is near the $0.5120 zone. The
first major resistance is near the $0.5200 level. A successful
break above the $0.520 resistance might send the price toward the
$0.545 resistance or the 61.8% Fib retracement level of the
downward move from the $0.5848 swing high to the $0.4820 low. Any
more gains might send the price toward the $0.585 level. More
Losses in XRP? If ripple fails to clear the $0.520 resistance zone,
it could continue to move down. Initial support on the downside is
near the $0.500 zone. The next major support is near $0.485. If
there is a downside break and a close below the $0.484 level, XRP’s
price could extend losses. In the stated case, the price could test
the $0.465 support zone. Technical Indicators 4-Hours MACD – The
MACD for XRP/USD is now gaining pace in the bearish zone. 4-Hours
RSI (Relative Strength Index) – The RSI for XRP/USD is now below
the 50 level. Major Support Levels – $0.500, $0.465, and $0.420.
Major Resistance Levels – $0.520, $0.545, and $0.585.
Ripple (COIN:XRPUSD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Ripple (COIN:XRPUSD)
Historical Stock Chart
From Jul 2023 to Jul 2024